Citigroup Cuts Boeing (NYSE:BA) Price Target to $256.00

Boeing (NYSE:BAFree Report) had its target price lowered by Citigroup from $290.00 to $256.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a buy rating on the aircraft producer’s stock.

A number of other equities analysts also recently weighed in on BA. JPMorgan Chase & Co. increased their price target on shares of Boeing from $245.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Vertical Research restated a “buy” rating and set a $281.00 price objective on shares of Boeing in a report on Tuesday, January 27th. Wells Fargo & Company began coverage on Boeing in a research report on Wednesday. They issued an “overweight” rating and a $250.00 target price on the stock. UBS Group lifted their target price on Boeing from $275.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Finally, Wolfe Research reissued an “outperform” rating on shares of Boeing in a research report on Tuesday, January 27th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and an average target price of $252.48.

View Our Latest Analysis on BA

Boeing Stock Up 0.1%

BA opened at $208.42 on Thursday. The company has a debt-to-equity ratio of 8.37, a current ratio of 1.19 and a quick ratio of 0.40. The stock has a market capitalization of $163.68 billion, a price-to-earnings ratio of 103.69 and a beta of 1.13. The business has a 50-day moving average of $223.16 and a two-hundred day moving average of $216.43. Boeing has a 12 month low of $128.88 and a 12 month high of $254.35.

Boeing (NYSE:BAGet Free Report) last announced its quarterly earnings data on Tuesday, January 27th. The aircraft producer reported $9.92 earnings per share for the quarter, topping the consensus estimate of ($0.40) by $10.32. The company had revenue of $23.95 billion for the quarter, compared to analysts’ expectations of $22.41 billion. During the same quarter in the previous year, the company earned ($5.90) earnings per share. The company’s revenue was up 57.1% on a year-over-year basis. On average, research analysts expect that Boeing will post -2.58 earnings per share for the current year.

Insider Buying and Selling at Boeing

In related news, EVP Uma M. Amuluru sold 2,731 shares of Boeing stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $236.00, for a total transaction of $644,516.00. Following the transaction, the executive vice president owned 11,925 shares in the company, valued at approximately $2,814,300. The trade was a 18.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Howard E. Mckenzie sold 10,497 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $233.99, for a total transaction of $2,456,193.03. Following the sale, the executive vice president directly owned 14,692 shares of the company’s stock, valued at approximately $3,437,781.08. This trade represents a 41.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 21,012 shares of company stock worth $4,980,687. 0.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Boeing

Institutional investors and hedge funds have recently modified their holdings of the stock. SteelPeak Wealth LLC grew its holdings in Boeing by 50.4% during the 3rd quarter. SteelPeak Wealth LLC now owns 26,360 shares of the aircraft producer’s stock worth $5,689,000 after acquiring an additional 8,833 shares in the last quarter. Patton Fund Management Inc. increased its position in shares of Boeing by 734.4% in the 3rd quarter. Patton Fund Management Inc. now owns 10,322 shares of the aircraft producer’s stock worth $2,228,000 after purchasing an additional 9,085 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Boeing by 3.3% in the 3rd quarter. Fisher Asset Management LLC now owns 5,505,040 shares of the aircraft producer’s stock valued at $1,188,153,000 after purchasing an additional 177,597 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Boeing by 41.1% during the third quarter. Russell Investments Group Ltd. now owns 223,824 shares of the aircraft producer’s stock worth $48,316,000 after purchasing an additional 65,216 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Boeing by 47.7% during the third quarter. Farther Finance Advisors LLC now owns 18,477 shares of the aircraft producer’s stock worth $3,988,000 after purchasing an additional 5,966 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing News Roundup

Here are the key news stories impacting Boeing this week:

About Boeing

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Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.

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